Ocular Therapeutix (NASDAQ:OCUL) Trading 5.4% Higher - What's Next?

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report)'s share price traded up 5.4% during mid-day trading on Monday . The stock traded as high as $8.11 and last traded at $8.13. 157,285 shares were traded during trading, a decline of 89% from the average session volume of 1,475,954 shares. The stock had previously closed at $7.71.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on OCUL shares. William Blair began coverage on Ocular Therapeutix in a report on Tuesday, April 8th. They set an "outperform" rating on the stock. Royal Bank of Canada started coverage on shares of Ocular Therapeutix in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $17.00 target price for the company. HC Wainwright restated a "buy" rating and issued a $15.00 target price on shares of Ocular Therapeutix in a report on Tuesday, March 4th. Needham & Company LLC reiterated a "buy" rating and set a $15.00 price target on shares of Ocular Therapeutix in a report on Tuesday, April 8th. Finally, JMP Securities set a $19.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.38.

Ocular Therapeutix Stock Performance

The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $7.40 and a 200-day moving average of $8.43. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -6.67 and a beta of 1.51.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. The company had revenue of $17.08 million during the quarter, compared to the consensus estimate of $16.89 million. On average, equities research analysts forecast that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Pravin Dugel sold 21,475 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $6.87, for a total value of $147,533.25. Following the transaction, the insider now directly owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. This trade represents a 0.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Donald Notman sold 11,119 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $7.81, for a total value of $86,839.39. Following the transaction, the insider now directly owns 193,444 shares of the company's stock, valued at $1,510,797.64. This represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. 3.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OCUL. Graypoint LLC bought a new position in Ocular Therapeutix during the first quarter valued at about $148,000. Vontobel Holding Ltd. bought a new stake in shares of Ocular Therapeutix during the first quarter valued at approximately $79,000. Peregrine Capital Management LLC acquired a new position in shares of Ocular Therapeutix in the first quarter valued at $6,212,000. Deltec Asset Management LLC lifted its position in Ocular Therapeutix by 3.8% in the first quarter. Deltec Asset Management LLC now owns 2,716,373 shares of the biopharmaceutical company's stock worth $19,911,000 after purchasing an additional 100,000 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in Ocular Therapeutix during the first quarter worth $2,505,000. Institutional investors and hedge funds own 59.21% of the company's stock.

About Ocular Therapeutix

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.